Nepal faces trade deficit of 2.68 billion with Bangladesh

KATHMANDU, MARCH 27: In the first eight months of the current fiscal year, Nepal's exports to Bangladesh amounted to Rs 2.96 billion while the imports stood at Rs 276.85 million. The former's trade deficit with the latter was Rs 2.68 billion.

According to Subash Pandey, Chief of Nepal Transit and Warehouse Management Company Limited, Kakarbhitta, the highest amount of goods bought from Bangladesh were raw jute, amounting to approximately Rs 1.60 billion.

Other imported goods include batteries, poultry feed supplements, cosmetic products, hydrogen peroxide, jute yarn, electrical equipment, pharmaceuticals, potatoes, paper, glass, and food & beverage items.

Meanwhile, Nepal exported crude herbs worth Rs 236.26 million through the Kakarbhitta border. During the review period, household items and animal feed were also exported to Bangladesh.

Expressing concern over the trade imbalance, Chief Pandey emphasized that electricity exports could help bridge the gap.